You're not making a fuss about anything. I think I mostly agree with the sentiment that it's weird. I think the mayor thing to recognise here is that there are different format events running as HackDays. Depending on the format, and the intentions of the participants, different levels of preparations are acceptable.
My big question actually is: if a HackDay is about presenting a product with a potential business model to a jury, then why bother with the 24hour overnight period? Why not just have people work on it for months and present it on a Sunday?
Weird, right?